F-Prime's Ben Aus­pitz co-leads $30M Se­ries A with Or­biMed for his lat­est rare dis­ease ven­ture

Hav­ing spent his 13 years at F-Prime Part­ners back­ing and ad­vis­ing rare dis­ease com­pa­nies — in­clud­ing Di­men­sion Ther­a­peu­tics and Or­chard Ther­a­peu­tics, which he co-found­ed — Ben Aus­pitz is in the game again with a brand new biotech start­up.

Ben Aus­pitz

Co-lead­ing a $30 mil­lion Se­ries A round for Modis Ther­a­peu­tics with Or­biMed, Aus­pitz is jump­ing in as board chair­man. As for the CEO post, F-Prime has tapped one of its en­tre­pre­neurs-in-res­i­dence, Joshua Grass, who’s al­so a 15-year BD vet­er­an at Bio­Marin.

Head­quar­tered in Oak­land, CA with of­fices in New York City, Modis has a clear­ly de­fined fo­cus on mi­to­chon­dr­i­al DNA de­ple­tion dis­or­ders, a group of ge­net­ic dis­eases that could af­fect the brain, mus­cles and any num­ber of or­gans.

Mi­chio Hi­ra­no of Co­lum­bia Uni­ver­si­ty Irv­ing Med­ical Cen­ter and Ra­mon Martí at Barcelona’s Vall d’He­bron Re­search In­sti­tute are cred­it­ed for Modis’ lead ther­a­py, MT1621, which treats the thymi­dine ki­nase 2 de­fi­cien­cy (TK2d), a po­ten­tial­ly fa­tal mus­cle-weak­en­ing dis­ease. The drug it­self is mix of nu­cle­o­sides that the re­searchers be­lieve can ad­dress the cause of mi­to­chon­dr­i­al dys­func­tion and has shown to pro­long sur­vival in an­i­mal mod­els.

Col­lab­o­ra­tors in Spain have be­gun to test MT1621 in hu­mans, too, with “en­cour­ag­ing re­sults.”

Joshua Grass

“This is a com­pelling or­phan drug de­vel­op­ment op­por­tu­ni­ty for a po­ten­tial­ly high im­pact ther­a­peu­tic for a very se­ri­ous dis­ease that af­fects both chil­dren and adults,” said CEO Grass. “The in­creas­ing use of ad­vanced DNA se­quenc­ing tech­nol­o­gy to di­ag­nose pa­tients with mi­to­chon­dr­i­al dis­ease at the ge­net­ic lev­el cre­ates new op­por­tu­ni­ties to tar­get ther­a­peu­tics to spe­cif­ic caus­es of dis­ease with large treat­ment ben­e­fits.”

Rishi Gup­ta

To ful­ly cap­ture that op­por­tu­ni­ty, Modis is work­ing on oth­er mol­e­cules and ther­a­peu­tic modal­i­ties to treat TK2d as well as oth­er ge­net­i­cal­ly-de­fined mi­to­chon­dr­i­al dis­eases.

Found­ing in­vestor Ac­eras Life Sci­ences al­so par­tic­i­pat­ed in the round, with Os­age Uni­ver­si­ty Part­ners tag­ging along. Or­biMed part­ner Rishi Gup­ta is join­ing the board.

Hal Barron, GSK

Break­ing the death spi­ral: Hal Bar­ron talks about trans­form­ing the mori­bund R&D cul­ture at GSK in a crit­i­cal year for the late-stage pipeline

Just ahead of GlaxoSmithKline’s Q2 update on Wednesday, science chief Hal Barron is making the rounds to talk up the pharma giant’s late-stage strategy as the top execs continue to woo back a deeply skeptical investor group while pushing through a whole new R&D culture.

And that’s not easy, Barron is quick to note. He told the Financial Times:

I think that culture, to some extent, is as hard, in fact even harder, than doing the science.

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UP­DAT­ED: Stay tuned: Bio­gen’s num­bers are great — it’s their wor­ri­some fu­ture that leaves an­a­lysts skit­tish

Biogen came out with an upbeat assessment of their Q2 numbers today, discounting the arrival of a key rival for its blockbuster Spinraza franchise. But the top execs remain grimly determined to not say much anything new about the sore points that have dragged down its stock, including the future of its big investment in Alzheimer’s or how it plans to invest the considerable cash that the big biotech continues to reap.

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Why wait? Cel­gene re­struc­tures a big Jounce pact — ze­ro­ing in on new I/O path­way with $530M deal and bump­ing ICOS

Celgene’s business team isn’t waiting for the big merger with Bristol-Myers Squibb to go through before syncing its strategy with the new mother ship.

Tuesday evening the big biotech unveiled a $530 million deal — $50 million in upfront cash — to amend their alliance with Jounce Therapeutics $JNCE to gain worldwide rights to JTX-8064, an antibody that targets the LILRB2 receptor on macrophages. Their old, $2.6 billion deal is being scrapped, leaving Jounce with a pipeline that includes the lead drug, the ICOS-targeting vopratelimab.

PACT Phar­ma says it's per­fect­ed the tech to se­lect neoanti­gens for per­son­al­ized ther­a­py — now on­to the clin­ic

At PACT Pharma, the lofty goal to unleash a “tsunami” of T cells personalized for each patient has hinged on the ability to correctly identify the neoantigens that form something of a fingerprint for each tumor, and extract the small group of T cells primed to attack the cancer. It still has a long way to go testing a treatment in humans, but the biotech says it has nailed that highly technical piece of the process.

UP­DAT­ED: My­ovan­t's uter­ine fi­broid drug looks com­pet­i­tive in PhI­II — but can they van­quish mighty Ab­b­Vie?

Vivek Ramaswamy’s Myovant $MYOV has closely matched its positive first round of Phase III data for their uterine fibroid drug relugolix, setting up a head-to-head rivalry with pharma giant AbbVie as the little biotech steers to the market with a planned filing in Q4.

Here’s how Myovant plans to prevail over the AbbVie $ABBV empire.

In the study, 71.2% of women receiving once-daily relugolix combination therapy achieved the clinical response they were looking for, compared to only 14.7% in the control arm. The data comfortably reflected the same outcomes in the first Phase III — 73.4% of women receiving once-daily oral relugolix combination therapy achieved the responder criteria compared with 18.9% of women receiving placebo — which will reassure regulators that they are getting the carefully randomized data that qualifies for the FDA’s gold standard for success.

Lit­tle Mar­i­nus sees its shares eclipsed as the Sage ri­val fails to com­pare on PPD in PhII

The executive team at Sage $SAGE have skirted another potential pitfall on its way to racking up a big future for its depression drug Zulresso.

Little Marinus Pharmaceuticals $MRNS had sought to challenge the Sage drug with an IV formulation — followed by an oral version — of ganaxolone for postpartum depression. But researchers say their Phase II study failed to positively differentiate itself from a placebo at 28 days — leaving them to hold up “clinically meaningful” data within the first day of administration compared to the control arm.

Roche cuts loose Tam­i­flu OTC rights, hand­ing Sanofi the keys as the phar­ma gi­ant dou­bles down on Xofluza

Roche set out to make a better flu medicine than Tamiflu as that franchise was headed to a generic showdown. Now they’ll see just how well Xofluza stacks up against the mainstay drug after handing off over-the-counter rights in the US to Sanofi.

Sanofi $SNY says it will now step in to negotiate a deal with the FDA to steer Tamiflu into the OTC market, a role that could well involve new studies to ease passage of the drug out of doctor’s hands and into the consumer end of the market. And the French pharma giant will have first dibs over “selected” OTC markets around the world as they push ahead.

Aca­dia is mak­ing the best of it, but their lat­est PhI­II Nu­plazid study is a bust

Acadia’s late-stage program to widen the commercial prospects for Nuplazid has hit a wall. The biotech reported that their Phase III ENHANCE trial flat failed. And while they $ACAD did their best to cherry pick positive data wherever they can be found, this is a clear setback for the biotech.

With close to 400 patients enrolled, researchers said the drug flunked the primary endpoint as an adjunctive therapy for patients with an inadequate response to antipsychotic therapy. The p-value was an ugly 0.0940 on the Positive and Negative Syndrome Scale, which the company called out as a positive trend.

Their shares slid 12% on the news, good for a $426 million hit on a $3.7 billion market cap at close.

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Some Big Phar­mas stepped up their game on da­ta trans­paren­cy — but which flunked the test?

The nonprofit Bioethics International has come out with their latest scorecard on data transparency among the big biopharmas in the industry — flagging a few standouts while spotlighting some laggards who are continuing to underperform.

Now in its third year, the nonprofit created a new set of standards with Yale School of Medicine and Stanford Law School to evaluate the track record on trial registration, results reporting, publication and data-sharing practice.